Lien Chieu IP Ready for Post-Covid FDI Investment Wave

3:29:10 AM | 18/5/2022

In a bid to bring really capable investors with large-scale investment projects to Da Nang City, particularly high-tech and high-quality services, the city-based high-tech parks and industrial parks are constantly investing in building modern infrastructure systems, improving the quality of products and services and perfecting working mechanisms to woo giant investors. One of the bright faces is Lien Chieu Industrial Park, which is trusted by investors as an ideal destination for their projects.

Imprints of sustainable green industrial park

On its development path, Lien Chieu Industrial Park successfully attracted strategic investors such as Crown Da Nang Beverage Packaging Company Limited, Da Nang Rubber Joint Stock Company, Da Nang Plastics Joint Stock Company and SSLV Co., Ltd. Its tenants have employed thousands of local workers, made a significant contribution to the State budget revenue and worked as an important driving force for the city to restructure the economy, boosting the development of other economic sectors and services of Da Nang City as well as the region.

Mr. Tran Ngoc Diep

Mr. Tran Ngoc Diep, General Director of Saigon - Da Nang Investment Corporation (SDN), the investor of Lien Chieu Industrial Park, said Lien Chieu Industrial Park was defined to be built into a sustainable industrial - urban - service zone for industrial manufacturers and supply associated social services like residence and public utilities. Moreover, as an eco-friendly industrial park, SDN prioritized planting trees to create a green, clean, beautiful and cultured space and landscape in the heart of the industrial park; and focus on closely linking economic benefits with sustainable environmental protection. The very intensive investment helped Lien Chieu Industrial Park not only meet criteria for a modern technical and technological infrastructure system, but also become a symbol of a green, harmonious and sustainable industrial environment.

To build a sustainable ecological industrial park, SDN always focuses on selecting capable investors, environmentally friendly projects and modern technologies; and gives priority to environmentally friendly projects such as tourism, services, information technology, electronics, components, precision engineering, logistics, high-tech agriculture and supporting industries. Up to now, this selective investment attraction approach has not only helped Lien Chieu Industrial Park in particular and Da Nang City in general draw many capable investors, but also facilitated the formation of a sustainable industrial environment to bring practical benefits to tenants. These are also foundation bricks to build a diversified, harmonious and sustainable Lien Chieu Industrial Park ecosystem where investors can live well and dedicate themselves to the city’s progressive development.

Regarding future development opportunities, General Director Tran Ngoc Diep said that as the COVID-19 epidemic is gradually being controlled, global manufacturers are focusing on restructuring their supply chains to reduce their dependence on China. This is also a golden opportunity for Lien Chieu Industrial Park to consolidate and strengthen its internal resources, and prepare a land fund for new FDI inflows after COVID-19. In the near term, the park will boost investment promotion in target markets, aim to improve the occupancy ratio and prioritize investment in infrastructure upgrading, actively increase competitiveness by enhancing the quality of provided products and services, and create premises to attract more and more investment capital into Lien Chieu Industrial Park in particular and Da Nang City in general to foster the city's comprehensive and sustainable socioeconomic development.

Building the nest for eagles

As a member of Saigon Invest Group (SGI) - a leading developer of industrial zones, urban areas and real estate in Vietnam, SDN has also inherited outstanding capabilities from its parent company and successfully developed many industrial zone and urban areas in Da Nang City (like Lien Chieu Industrial Park, expanded Hoa Khanh Industrial Park, An Vien Residential Area, the residential area for expanded Hoa Khanh Industrial Park, Bau Tram Lakeside Green Urban Area and Dragon City Park Green Urban Area), helping shape a prosperous urban look for Da Nang City, also called the city on the Han River. With its projects, SDN has provided the most profitable business environment for loyal customers by delivering comprehensive and effective services towards a sustainable green industrial park, a professional working environment, and an ideal living environment for investors and residents to settle down for a long time.

As one of major economic centers of Vietnam, Da Nang City possesses a strategic geological location. It lies in the central key economic zone and is the gateway of the East-West Economic Corridor. The city also has an international airport, seaports and highways, which are important foundations to woo investors. Driven by new strong investment waves in recent years, Da Nang City has got a bright facelift and accelerated modern industrialization in an opening economy. The city gives priority to strong industrial and service development and gradually increases the share of value-added economic sectors.

In 2020 - 2021, due to COVID-19 pandemic impacts, investment inflows into Vietnam, including Da Nang City, slowed down. For the time being, as the pandemic has been contained, the global investment wave has also started to show positive signs of recovery. Many foreign enterprises want to diversify production bases in the world and they tend to reshuffle and shift their supply sources from China to ASEAN countries, providing golden opportunities for Vietnam, including Da Nang City, to catch new investment flows.

To catch FDI inflows directed to Asia and realize the goal of drawing US$3 billion of investment capital in 2021-2025 and US$ 4 billion in 2026-2030, Da Nang City advocates improving the transparent and open investment environment; accelerating information technology application and digital transformation; and actively launching professional and focused investment promotion programs. At the same time, the city continued to open up resources, call for and attract investment funds into key economic sectors and high-tech fields powered by modern technologies to make competitive and environmentally friendly products. Determined to side with Da Nang City in economic development and investment attraction, especially focusing on high-tech projects and giant investors in the world, SDN proposed to the Da Nang City People's Committee to ask the central government for building more economic zones and industrial zones of larger scale to meet increasing demands of investors. More importantly, the strategy of “building nests for eagles to land” will leverage the development of the manufacturing and trade service fields in the city and soon realize the goal of developing Da Nang into a logistics center of the central key economic region and the whole country.

By Vietnam Business Forum